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Search Results 0 to 49 of about 115 (some duplicates have been removed)
on the local economy. positive effects in terms of lower training costs and turnover and less lost time at work and dedicated employees, so small businesses, mid size and large businesses benefit from in, as well as local government because they don't have as many people relying on social services. so, the data doesn't back that up. in fact, it's a positive thing he when we do it in a planful fashion to raise the minimum wage. >> on this issue, just like an economist. on the one hand, on the other hand, there are studies on both sides. but jonas there is an argument that higher minimum wages reducing turnover, which lessens the costs of employers and could increase employments. >> you would never leave the job if you could get it, it's a pretty good wage. negatives and benefits. both sides of kind of right. if the minimum wage is low $2, it wouldn't disrupt the job market. if it's $50, high unemployment, but a-- there's obviously a level between there where the negatives would exceed the positives. there are positives, workers would get more money under the plan and not outsourced to china. you
and his team realized that they can't get to their spending nirvana without getting this economy growing. and the economy is hobbling along, even if slow runners can across the finish line. neil: we may be back to levels of the market where we were five years ago. but it has been a steady climb back to worst -- excuse me, from e worse. net net, is a good barack obama? >> yes, i am for it. we are all investors. we all want to see this thing improve. i agree with bob that economics is about choices. neil: i do buy your argument about the slowly inching back economy here. not in the gangbuster fashion, but enough to compel money that has been nervous. and sitting on the sidelines come back in. but the way it is being committed is not to expand plans and operations as much as it is to retrench buying out a competitor. you're really not expanding your business but you're really just retention the existing business. you are not heralding the success of what is going on. you could argue it is part of the bunker mentality. explain the mechanics of what is happening. >> i think you're absolutely
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these markets and the economy is headed, well, we will be talking with and welcome to our own rick adonis, senior u.s. economist for deutsche bank security. good to have you here. your year. i mean, we have people walking around with long faces. all parts of the country because they're unemployed. the economy is contracting. and they just don't understand how nice it is to be on wall street. >> well, it is chilly down on wall street. i assure you. but we are seeing some positive signs in the economy. so, yes of the fourth quarter did not look so great. the best top-level gdp number. but when you look beneath the surface we see some important undercurrents. does green shoots cut consumer spending. lou: seeing that come back. >> consumer spending is picking up. the investment which had been contracting. nav is picking up again. the housing market is picking up. but the domestic economy looks dece. it needs time to run until that an employer rate is down, but it increasingly looks like we are building some momentum. lou: you know, i really am. and i am delighted to see your optimism and to h
be quote as necessary to defense as it is to the national economy and the personal safety. as president, eisenhower set out to gather national support complete with a made-for-tv style campaign ad. >> in this century, america has become a nation on wheels. we ride on wheels to work, to shop, to play, to go about any place we want to go. we depend on wheels to bring us the food we eat and the clothes we wear and the things that we use, but when we depend on wheels, we depend also on highways. >> but of course, as all things in washington tend to go, the 34th president struggled with the lack of consensus. governors, democrat and republican, fought eisenhower e on with what they called his plan for the biggest federal aid programs, calling the republican president to task for running away from his staunch opposition to federal encroachment on state sovereignty. it was in fact the democratic senator from virginia, harry byrd, who tried to block eisenhower's plan, and byrd was known as a pay as you go man, and he had a wild hatred for debt. after a lot of coalition building president dwight
idea. the effects on the economy is clear. the economic recovery is being held back by washington. goldman sachs chief u.s. economist out with a new report, saying that the onomy will ntinue to go well below its potential. most consumers obably weren't aware of the hit to their disposable income until they receive their mid-january paycheck. one republican pollster in a new report rights that we have entered a new phase for the dysfunction and paralysis in washington is having a significant impact on how consumers feel about the overall state of the economy and their personal financial situation. the drop in consumer confidence, he says, is directly related to a lack of competence in our current political leaders. consumer confidence has taken a hit, a big one since post-world war ii history. already there is evidence of a slowdown in consumer spending. reports that wal-mart had its wot start to its month in seven years. the payroll tax hikes may be starting to bite. gas prices are up 51 cents in the last two months. prices are up every single day since the middle of january. it i
trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. >> at 20 minutes past the hour, i have your fox news minute. a south african judge has allowed oscar pistorious to go free on $113,000 bail. the track star is charged with the murder of his girlfriend on valentine's day. oscar pistorious says he shot the model accident late thinking she was a intruder in his house. prosecutors say it was premeditated murder. a fire department official says only the flight team was on board the chopper when it went down. it was heading to pick up a patient 70 miles away. cuban president has raised the possibility of retiring, but did not say when he may make that decision. the 82-year-old leader made the comment in savanna. those are your headlines on the fox business network. back to ashley. ashley: all right. thank you very much. shibani: representatives from boeing meeting with the faa today. solutions for the battery fires that have grounded the 7873 minor. peter barnes is in washington. peter: top boeing executives are expected to propose a new design for
the sequestered because it is a wholly unnecessary will run the economy if it were to take place. >> except there were others in the president's party like former democratic national committee chairman howard dean suggesting the president should let the sequester happen to slice the pentagon's budget. telling the huffington post, i am in favor of the sequestered. it is tough on things that i care about a lot, but the fact of the matter is, you are not going to get another chance to cut the defense budget in the way that it needs to be cut. white house officials disagree. as does the outgoing defense secretary leon panetta warned such deep cuts could leave america with as second-rate military. lou: you will remember republicans were furious before the election and the white house was not complying with the warrant act which is a law that basically says employers need to warn employees about upcoming furloughs. the white house pushed back on all of that. now they are releasing those for loan notices. remember, people the 30-60 days in some cases on notices, which means these furloughs will ta
, and now soaring utility bills. this is spreading to every fascet of u.s. economy we're told that winter has weeks left, growing signs this evening this keeps up the same could be said of the recovery itself. phil, you follow this, what is going on? >> you know we had everything that could go wrong, go wrong. we had refinery issues, hurricane sandy, and refinery fires, this is around the country, on top of that because of fed fed policy, -- federal reserve policy the price of oil has gun up over $10 a barrel in under a month, that is a recipe for sharply rising prices. neil: normally that stuff creeps up in other areas not good. >> i actually am more amount mystic. -- optimistic, fuel costs represent about 4% of pretax income. i think that the consumer has lost that payroll tax credit, they are still spending they are not increasing it but they are maintaining their baseline. other thing that should bring optimism they are increasing level of nonrevolving borrowing, they are setting themselves up to purchase big ticket items, under the stats, give you a sense there is a left of consumer
that there is an average wage that is probably twice the national average. they have high leverage in the economy. there is going to be an unintended consequence, unfortunately, if there is not a deal made in 11 days. ashley: would you agree that defense spending needs to be reformed? it may be the wrong way to do it, but it seems to be the only way. >> the suddenness. in the past, abbott there -- in the past, there was a planned slowdown of an amount of what we are facing here. we have already taken a 12% cut for defense contractors and they are looking at another seven-12% again. ashley: how much does this compromise national security? >> well, clearly, one of the ways that will be cut in and unplanned fashion is to stop paying for discretionary things like language interpreters and servicers, as well as, maintenance and operations. that means we will not be able to deploy our forces overseas. whether it be for military purposes or expeditionary purposes for humanitarian aid. ashley: tom, quickly, they are supposed to give 60 day notices. if these cuts go into effect in 11 days, that will not h
're going to hurt the economy. but what the president didn't mention, that the sequester, that was his idea in the first place. >> not smart, not fair, it was his idea? let's keep adding it up, boys. today john boehner fired off his latest shot in this blame game. he took to the pages of the "wall street journal" to accuse the president of the united states of creating a financial crisis. boehner said the president's sequester is now eminent. but the daily beast website released some information today to knock down boehner's accusations. you see, back in 2011, boehner's office developed a power point presentation for house republicans. it was a two-step approach, but it actually contained three steps. first of all, no tax hikes. of course that's typical. spending cuts extending the debt ceiling increase, and spending caps. but while pushing those spending caps, boehner did what? he highlighted a special trigger mechanism -- sequestration. boehner was selling this idea to his caucus as a good way to make sure that they were going to be able to get the cuts that they really wanted. boehner lo
to the economy. >> is this short -- >> it will ultimately work out if the economy can get by with the back to normal payroll tax. this could juice it back around. there's no perfect plan the government can do, but it's possible this payroll tax cut could be lowered in the recession and raisedded in boom times to make up for the cut. b. adam: that's all that time we have. melissa will be back monday. ♪ gerri: hello, everyone. tonight on "the willis report" another unintended consequence of obamacare. now your health insurance may not cover your spouse and more. and starting to get hit by the sales tax. one economi says the designers of the law were all wrong. and, to top tier weekend. we have you covered with the important things like what the stars are going to wear and what is really in those slight bags. "the willis report" is on the case. ♪ gerri: all of that and more coming up later in the show. first, our top story. listen to this. honey, you are uninsured. yet another consequence of obamacare. you can add it to the list. more and more employers planning to drop health coverag
surrounding the economy, dow jones has one of the best january in years. if the dow has a great january, oil prices likely will follow. that is what we're seeing. gasoline prices following. not only that, refineries haven't necessarily switched over to summer blend of gasoline but are preparing to do so for the all-out production will bring, not only that, a job in that as well. sandra: i want to challenge you one thing. he said gasoline prices will track the price of oil, but let's throw out the price of oil and gasoline this year. oil prices up year-to-date 4.1% while gasoline prices are up three times that, more than 14%. so gasoline prices are way outpacing the price of oil. >> that happens from time to time. gasoline prices didn't necessarily go as low as oil prices. this last november. right now a lot of it is a primary bottleneck why prices haven't followed crude oil so closely. we still have that bottleneck in the way causing a spike in gasoline prices, refineries moving production preparing for summer driving season. sandra: the bottom line, oil prices have gone up, we cannot refine
, not be bailed out then this economy creates jobs and allows people to move ahead as abraham lincoln said improve their lot in life. government hurts' opportunities come to keep people in their place and is not a how to create things. free the people. they will do its. [laughter] john: you may kitchen ventilation systems in the kitchen to suck up the bad air but government wants to make your business better so then they will help all of the of the if you focus on 79 pages of regulation, and many manufacturers are very small, it is too abstract it is impossible to read. >> notice of proposed rulemaking subsection 13, a complete missing in action is unintelligible then they try to make your fans used less electricity. so we have a paradox but he wants to regulate us to death so with creativity with the small investments made over a long period of time and government dampens that for the economy. >> keep in mind if you don't succeed in a tr free market even if you meet the needs and wants of other people. john: not the caricature f obama that he pints of us being greedy cackling over your money. >>
by the government, the white house who can't even seem to make the slightest bit of improvement in the economy. gerri: the number for the sequester will be half a percent. we are not even talking about curbing growth, but we are talking about a small backtrack. at the end of the day, we are not talking about a lot of money. but i would like to ask you that the president likes wants to spend $50 billion on infrastructure. didn't he do that just a few years ago? didn't we find that spending on roads and bridges was difficult because shovel ready wn't so already? >> thetimulus was $800 billion. the president understood at that time that the american people would buy into anything because they were so desperate. the fact of the matter is when we look back on it, there wasn't enough shovel ready jobs. we didn't see what was promised, it has been about 80% almost the entire presidency. the american people are disappointed time and time again. expectations are low. the president taking stimulus, 50 billion. you could say, well, at least it's not 500 billion, that's many that we don't have. >> there i
the path europe has gone down with a statement economy and cons of unemployment, tons of people taxed to death, or the other path with a more economic freedom and people can decide what they want to do, government isn't taking care of you from cradle to grave and they make that hard choice because this is not sustainable. neil: could also be stating something america's might well come and be willing to pay a little bit more if they have a government that will do a little bit, presumably a lot more and might be okay with it but throwing it out there that it is inevitable, so what are we going to do? >> i think a lot of people pay a little bit more. if you want to the american public and civic and fix everything by putting 20%, everybody would say okay. 25, 26, 27% and cut the investment in the economy and half, a catastrophe for our ki kids. but that is where the money is at a middle-class is where the money is at. neil: i guess i want to get back to the basic math argument because half the people of this country don't pay any federal income taxes. some are military, some of gotten to
, i think the leverage that the debt of force china is greatly overstated because their economy is just as dependent on our's as ours is on them. gerri: we are there market for there goods. >> for one party or the other terrorist retaliation economically is a bag of the neighbor policy that i don't think -- gerri: there are still people that think the federal that is our biggest national security issues. tune out? >> i think it is a huge nestle security issue and would like nothing better than for china to say, we're not buying any more of your depth. might force the status of fiscal discipline. you cannot have a strong presence internationally, especially militarily without a strong economy. to the extent that the deficit each year adds to the debt and saps our domestic economy, thus preventing it from recovering, absolutely. gerri: you make a great point. we are looting this report which said that the chinese government is involved in acting and stealing ideas, stealing memos, stealing e-mails, stealing a permission from our federal government, and they even name the unit of t
-- and going to remain dysfunctional and that the economy is weak. gerri: a long way to go. i thinkou're absolutely right. those memories are still fresh of losing half of your retirement savings. you don't forget that in a heartbeat. they come up with reasons for delaying retirement. 58 percent said don't have enough savings. outstanding debt and market stability in housing values. and interesting because so much of regular american wealth is tied up in their house. that took a major hit. >> absolutely. gerri: and so when you look at market stability going forward, there seems to be no real place in the stock market that will continue rising even though we have seen a great run. what is amazing is the number of individual investors stayed at of the market despite the fact that we keep seesawing back and forth over the 14,000 level on the dow. >> well, you know, investors have been burned, but nothing the other thing, the reason my retirees are fearful is that interest rates are so low. takes two and a half times more money to generate the same amount of income as it did ten years ago
ministers tell japan and other big missions, no currency wars. if a weaker currency helps their economy, plummet against the dollar and the euro. where's the trade for you? top currency strategist helps you dig for the treasure. are your mutual funds socking you in dividend taxes? a morningstar analyst teaches you how to -- >> countdown starts right now. liz: good afternoon everybody. i'm liz claman. happy president's day. yes, the u.s. markets are closed, but we are open for business. and good thing at that, breaking news in just the last hour and a half, the "wall street journal" reporting that office max and office depot are in talks to merge. sources say the talks are fluid, could still fall apart, but an announcement could come as early as this week. office depot is the bigger of the two with a market value of about 1.3 billion dollars. while office max, about 933 million dollars. both have pretty much skyrocketed over the second half of last year. now, according to sources, the deal is expected to be stock for stock exchange. the possible merger could help the two office supply re
we all lived when the floor fell out of the 2008 economy. that was the detroit represented by the three big auto manufacturers whose failure would have symbolized to many of us the very failure of america, and that detroit as the obama for america campaign reminded us repeatedly, is now very much alive and kicking. but that detroit, the detroit we all want to see survive, exists in the entire country, not within any specific municipal bounds. then there is the literal detroit, the one where people live, the renaissance city founded initially in 1701. once it was a hub for mechanical manufacturing and detroit in the mid 20th century was a magnet for those looking for work. the city's population grew to more than 1.8 million residents in the 1950s. today, according to the latest census, detroit is the only -- the country's 18th largest city with just more than 700,000 inhabitants, for a city that covers almost 139 square miles. a space that san francisco, boston and manhattan could fit in with room to spare. there are so many factors contributing to the city's financial distr
the economy and jobs. there is, obviously, debate how many jobs have been created in the economy. look. you pointed out to apple tim cook in the audience in the state of the union and sitting on over $171 million in cash at apple. why? because uncertainty in the marketplace. tom friedman writing this morning something that caught my eye. he said you can feel the economy wants to launch but washington is sitting on the national mute button. we the people feel like the children of permanently divorcing parents. >> how does this sequester business end? the president said during the campaign the sequester, the word for automatic spending cuts, he said it would not happen. is it going to happen? >> i always read tom friedman has the good minnesota sensibility. the column today i think is continuation of that. frankly i believe a continuation of exactly the plan the president laid out in detail in the state of the union on tuesday night. we have already made 2.5 trillion dollars in deficit reduction efforts. we are going to -- we're ready as the president said in a very detailed way to make anoth
's get a look at the big picture and how gasoline prices could affect the economy. >> the economic model, gasoline prices, one of the troubles facing consumers in the early part of this year. let's put some numbers on it. $10 a barrel increase is negative 0.2. it's double, that's where it comes from the decline in spending and hit to consumers' pockets and half the impact on total investment according to eia. more to the energy bill and gasoline. consumer pay for both energy commodities, gasoline and diesel and energy services, electricity and natural gas. the gas part, that's the part that's been going up, the biggest part. the smaller piece, the utilities, they have been dock down. that's something of an offset, why the worst case scenarios courtney spun out may not come true. add up uncertainties, high gasoline prices, sequester, payroll taxes, security, growth, that line that goes through the green number, that's the range of forecast. you can see for the first quarter it's the largest, 3% to 1.5%. maybe lower if we get the sequester, payroll tax ends up worse than we thought. it's s
it away. the economy is doing better than i should be good for stocks, new money to stop the slide, or things continue to get worse and we see we need more qe, that is good for stocks, stocks will go up again. both scenarios will tell you we need fresh money or bottom pickers coming to the market when normally they would be much bigger but they will be muted because the cash coming in for cheaper buying opportunities. liz: as we continue to watch the major indices, let's go to mike, that was so oil falling more than $2 obviously a stronger dollar today, that has to have something to do with it. how much does the output plane to this? >> i don't have much to do with the saudis thing. the rumors of somebody going out there and liquidated. i started around 11:00 this morning a stop order traded and the market froze up about 10 seconds, so i think it has more to do with a panic, everybody getting out of the commodity space. it was a fun liquidation. liz: if they feel they want to take some money off the table, is that what we're talking about, or is somebody in trouble? >> somebody is
. oscar for best actor goes to? look at that, washington. they act like the economy thrives, but news today, it could be diving. automatic cuts around the corner, but the white house says it is calm. the guy at the receiving end of the blow saying democrats are as calm as the union guys who hit him. him. don't believe them. this is $100,000. him. don't believe them. we asked total strangers to watch it for us. thank you so much. i appreciate it. i'll be right back. they didn't take a dime. how much in fees does your bank take to watch your money? if your bank takes more money than a stranger, you need an ally. ally bank. your money needs an ally. did you know not all fiber is the same? citrucel is different- it's the only fiber for regularity that won't cause excess gas. it's gentle and clinically proven to help restore and maintain regularity. look for citrucel today. neil: look up. over much of the country, it's the same story. a massive snowstorm slamming a good chunk of the country, but one week before the automatic cuts are set to kick in, the new york new york say -- the "new yo
the state of the economy, he probably should have lost and he won not just because of mitt romney's inadequacies, but because he built the finest political organization in recent american history with more than 1 million volunteers. >> you share that in common with barack obama. his hometown of chicago. your hometown is chicago. >> i met barack obama in 2002 and at that time he had just lost for the house of representatives. he told me when we first met when my aunt had died and he came over to pay respects to my cousin's house. he said he was going to run for the u.s. senate. i remember thinking, wow, that's a lot of nerve. he just lost for the house and he is running for the senate? yes, i knew him and i knew a lot of the people around him in chicago for many years because i grew up in chicago politics. my mother was a politician. my mother new barack obama in the '80s. so, you know, in some ways i'm familiar with the political environment that he came out of and i think that, you know, it's giving me a little bit more insight going back with these folks for quite a long period
its economy eventually was created, he has a job. details coming up. ♪ today is gonna be an impyou ready? for us. we wanna be our brother's keeper. what's number two we wanna do? bring it up to 90 decatherms. how bout ya, joe? let's go ahead and bring it online. attention on site, attention on site. now starting unit nine. some of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers. shibani: get ready for it. moving coast to coast a winter storm now hammering places like kansas and nebraska. where is it heading next? we have the very latest. should i be getting my snow boots out for the weekend? >> that definitely depends on where you live. a lot of whether going on this afternoon. heavy snow continues to fall right around the st. louis area. that being mixed in with some sleep there. we are getting reports of anywhere from nine-11 inches already right around the kansas city area. this is an ice storm. very slippery conditions around springfield. that is likely to continue. the words of this storm likely to occur along i-34. that wi
's lead. republicans trying to tank the economy again. today president obama called out the gop for refusing to stop catastrophic budget cuts due to hit next friday. cuts that could derail our entire economy. these cuts were never supposed to have happened. they were designed to be so awful that even republicans would see the light in compromise on a budget deal before they could take effect. but the gop refused. >> these cuts are not smart. they are not fair. they will hurt our economy. they will add hundreds of thousands of americans to the unemployment rolls. this is not an abstraction. people will lose their jobs. >> people will lose their jobs. these cuts will effect huge parts of the economy. and cripple essential government services that millions of people rely on. >> emergency responders like the ones who are here today, their ability to help communities respond to and recover from disasters will be degraded. border patrol agents will see their hours reduced. fbi agents will be furloughed. federal prosecutors will have to close cases and let criminals go. air traffic con
they spend, $85 billion a month appears to be at risk later in 2012 if the economy improves. again, when bill tweets something like this, it moves markets, and it was just before three o'clock. we noticed that that's the point at which the declines began to go even further south, and 10 it may, indeed, be that tweet by bill gross. todd is in the pits of the cme and joe bell, senior equity analyst, and david, first trust financial resources president. todd, let's start with you and that thud heard at 2 p.m. when we got word how much there was by the fed. by the way, that led to gold just plummeting. it ended down over $40. is that going to move the markets further tomorrow in a particular direction? >> hi, david, hi, liz, you know, i think we had a natural selloff. looking for a reason to take profits. we got the reason. there's a little fighting at the fed, selloff in the market, and gold trending lower the last six months anyway, and when soros pulled out last week with the news today, a perfect recipe for a drop in gold. gold could go to 1550, another ten bucks here, and if it doesn't hold
and a lot of damage to the economy. but because it's slower moving, there seems to be less impetus to get a deal done before the march 1st deadline. you're hearing maybe this would all be wrapped up and the continuing spending resolution, if that's not solved by the end of march could result in a government shutdown. there seems to be posturing for negotiating all at once, some time in march. looks like it's possible we'll go past the sequester. >> didn't the gop agree to the sequester deal? and if the gop wanted to stop it, they could have. how do you assess blaming the president for the sequester? >> i'm not sure that's really working out for them because it's true that both sides agreed to this. and now the president is saying, okay, i agreed to this but let's do something about it. the whole idea of the sequester is it would be such a bad thing that neither party would want to go through with it. we can disagree with the logic of even setting this up. but it is true that if you're the party that's refusing to do the negotiation, i think you're the one that looks bad. the fact that bot
will collapse. this is $85 billion in net of three and half trillion dollar budget in the $16 trillion economy. i would be hard-pressed to explain how cutting 85 billion -- think of it as taking 85 billion out of your allowance of $3,800. eighty-five bucks out. as not going to end things. lou: percentages are, perhaps, the easiest way to comprehend this. 2 percent, you know, is not that significant. on the other hand, it is easy to recall that rat poison is mostly of meal in most cases with 2% poison in it. 2% can be deadly and destructive in some cases determined. go ahead. >> no one should argue this is a good idea. this is, as i was quoted, a bad idea whose time has come because the worse idea is to not deal with the spending. that is the problem. and at least they are agreeing that there not going to do nothing. so it is either do real spending cuts that are real choices and really passed the senate, which we have not seen passed the house. with this. lou: at some point, and i know that you are doing your level best to try to bring rationality into the nation. >> not my fault. lou: i under
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